Sumitomo Mitsui DS Asset Management Company Ltd Has $3.52 Million Position in Splunk Inc. (NASDAQ:SPLK)

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Splunk Inc. (NASDAQ:SPLK) by 5.1% in the fourth quarter, HoldingsChannel reports. The fund owned 23,082 shares of the software company’s stock after buying an additional 1,111 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Splunk were worth $3,517,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of SPLK. Jericho Capital Asset Management L.P. lifted its position in shares of Splunk by 85.6% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 1,394,000 shares of the software company’s stock valued at $203,872,000 after acquiring an additional 643,000 shares during the period. Federated Hermes Inc. lifted its position in shares of Splunk by 48.8% during the 3rd quarter. Federated Hermes Inc. now owns 843,862 shares of the software company’s stock worth $123,415,000 after buying an additional 276,742 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Splunk by 1,234.5% in the third quarter. Assenagon Asset Management S.A. now owns 279,917 shares of the software company’s stock worth $40,938,000 after acquiring an additional 258,941 shares during the last quarter. abrdn plc increased its position in Splunk by 144.7% during the 4th quarter. abrdn plc now owns 369,213 shares of the software company’s stock worth $56,250,000 after purchasing an additional 218,311 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in Splunk by 229.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 308,857 shares of the software company’s stock valued at $45,170,000 after purchasing an additional 215,041 shares during the last quarter. Institutional investors and hedge funds own 87.56% of the company’s stock.

Splunk Price Performance

Shares of NASDAQ SPLK opened at $156.90 on Tuesday. The company has a debt-to-equity ratio of 15.61, a current ratio of 1.69 and a quick ratio of 1.69. The company has a 50-day moving average price of $156.42 and a 200-day moving average price of $152.78. The stock has a market capitalization of $26.44 billion, a P/E ratio of 124.52, a P/E/G ratio of 4.42 and a beta of 1.00. Splunk Inc. has a 1 year low of $82.19 and a 1 year high of $156.97.

Splunk (NASDAQ:SPLK) last released its quarterly earnings results on Tuesday, February 27th. The software company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $1.42. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.26 billion. Splunk had a return on equity of 32,117.42% and a net margin of 6.26%. On average, equities research analysts forecast that Splunk Inc. will post 1.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SPLK. StockNews.com began coverage on Splunk in a research note on Friday. They issued a “buy” rating for the company. TheStreet upgraded Splunk from a “c” rating to a “b” rating in a research report on Tuesday, February 27th. Twenty-three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $135.31.

About Splunk

Splunk Inc, together with its subsidiaries, develops and markets cloud services and licensed software solutions in the United States and internationally. The company offers unified security and observability platform, including Splunk Security that helps security leaders fortify their organization's digital resilience by mitigating cyber risk and meeting compliance requirements; and Splunk Observability, which provides visibility across the full stack of infrastructure, applications, and the digital customer experience.